Major Turkish company started production in geothermal greenhouses in 60 hectares

A major Turkish company is establishing new soilless agricultural greenhouses that will increase the current agricultural production capacity of the country. The production is underway on 60 hectares, with the first harvest expected to start within May. With additional greenhouses planned to be built in the next phases of the development, the total investment will reportedly reach 650 million USD. A total of 4,500 people will be employed in the greenhouses, which will reach 500 hectares when completed. 90% of the employment will be made up of women.

Umit Nuri Yildiz, CEO of the company, explained at the press conference the details of the investment. Mr. Yildiz remarked that Turkey has great potential in soilless agriculture and that this potential stems from geothermal resources. Turkey ranks 1st in Europe in terms of geothermal resources, but the temperature of the hot water under the ground is low for electricity generation. However, this temperature is suitable for greenhouses, and the efficiency rate in the greenhouse increases up to 60% with geothermal energy.

The company is aiming to turn agriculture and food investment into a cyclical business line and looks at the issue from a broader perspective. In this context, while producing in greenhouses with geothermal irrigation, a facility will be established to turn the waste into fertilizers. With this initiative in the chemical industry, organometal fertilizer, which is a more intensive and efficient fertilizer with reduced environmental impacts than conventional fertilizers, will be produced and used primarily in the company's production sites. Some of the fertilizer will also be sold to the market. Yildiz said, "We aim to produce 300,000 tons of fruit and vegetables per year and to enter the top 10 in the world with a production of this size in 2028."

Umit Nuri Yildiz added that they believe in Turkey's future and that they do not want to slow down their investments, "We have entered the gray zone at the moment. No matter who wins the election, I think 2024 will be better than 2023. We believe in Turkey's potential." Emphasizing that there may be a rally in exchange rates and interest rates after the election, but they expect this to be for a short time, Yildiz said, "There is talk about Turkey becoming Argentina. Turkiye has gone through difficult times in the past, but it has never been in a state of bankruptcy. Although it will rally for a short time, it will stabilize. I believe that there will be an inflow of hot money into Turkey in the second half of the year." 

Source: Dunya

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